The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every week on BoatingIndustry.com.
1. NMMA sends letter to Congress on E15
The National Marine Manufacturers Association and a coalition of small engine manufacturers and consumer have sent a letter to Congress calling for the enactment of "common sense solutions to the existing misfueling mitigation plan (MMP)."
The existing MMP fails to adequately protect the millions of small engine consumers against the dangers of mid-level blends of ethanol like E15—time after time, data shows that the American public is unaware of E15 and its harmful effects on small engines, NMMA said.
“This is the No. 1 issue for our member companies and their consumers,” said Michael Lewan, NMMA’s senior manager for government relations.
The letter, signed by eight trade associations, was delivered to leaders and members of the Senate Environment and Public Works Committee and the House Energy and Commerce Committee.
2. Strong's Marine acquires new marina
Top 100 dealer Strong’s Marine recently acquired a fourth marina, Mattituck Inlet Marina and Shipyard, Newsday reported.
The property has been renamed as Strong’s Yacht Center, and is located near Strong's existing Water Club & Marina on Mattituck. The yacht center has 70,000 square feet of indoor boat storage in four buildings, a woodworking shop and a large maintenance facility, the company said.
3. Bass Pro Shops says it will keep Cabela's brand
Bass Pro Shops says it will keep the Cabela's brand, at least for now, World-Herald News Service reported.
Bass Pro CEO Johnny Morris has said his firm plans to keep and even expand the Cabela’s brand. He also said he expected to add Bass Pro merchandise to Cabela’s stores and Cabela’s camping and hunting gear to some Bass Pro stores, the paper said.
Bass Pro Shops plans to acquire Cabela's in a deal announced earlier this month. The sale is expected to close in 2017.
4. Market slows as election nears, insurers, lenders say
Marine industry lenders say consumer demand for loans has been mostly high this year, but has slowed in recent months due to consumer jitters about the U.S. election, the Sun Sentinel reported ahead of the Fort Lauderdale International Boat Show.
"The first half of the year was great, but we've slowed down since July," Allan Baum, president of Elite Financial in Pompano Beach, told the paper. Historically, elections have tended to have a chilling factor on big-ticket purchases like boats, he said.
Others have also noticed consumer anxiety about the election's results and the potential economic impact, the paper reported.
5. 25 fantastic examples of brands using Instagram
Most businesses in the boating industry have no shortage of good photographs. With such a photogenic business, using Instagram seems like a no-brainer, even as many companies struggle with it. Here are 25 examples from Entrepreneur of brands successfully leveraging the network to build their business.